We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Circle Oil | LSE:COP | London | Ordinary Share | IE00B034YN94 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.625 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
18/5/2016 10:37 | Added a few at 2p | marunam2 | |
18/5/2016 09:36 | That's 40% or so of dues to be paid back to BG / Shell. $400m. To Dec 2015 We were owed $20m or so . since then till May 2016 , 6 months more most likely added. Bearing in mind COP are in need of their dues , we should get a good slice back of the $20m-$25m due to us, the Egyptian Govt and EPGM would not want an oil company suing them for non payment when they are trying to attract large investments with the POO at $50. | marunam2 | |
18/5/2016 09:25 | From ; Daily News Egypt Shell and British Gas (BG) have reached an agreement with the Petroleum Ministry to obtain $400m of their financial dues by the end of June, in exchange for renting a driller and resuming work in the 9B phase of the project in the Mediterranean. A source close to the negotiations with the government told Daily News Egypt that during a recent meeting Petroleum Minister Tarek El-Molla promised the CEO of BG Samy Eskandar to repay $400m by the end of June and complete the repayment of the full dues by the end of 2016. He added that BG’s dues are estimated at $1bn, and they represent 30% of the government’s full dues to the foreign petroleum company working in Egypt. The full dues are worth $3.2bn. The Dutch company Shell acquired all assets and concessions of BG in February 2016. The source said that the deal would accelerate the work and link wells of stage 9-B by the fourth quarter of 2017, adding that the entire project can be completed in the second half of 2018. The agreement was preceded by negotiations between BG and the Egyptian General Petroleum Corporation to raise the price of gas. The source pointed out that the gas from the 9B stage in the deep Mediterranean water was priced through a pricing formula linked to the price of Brent crude oil with a maximum of $5.88 and a minimum of $2.5 per million British Thermal Units. He added that Shell will not resume work in stage 9B until the price is set by the parliament and part of its financial dues have been received, as well as allowing the company to export 100m to 150m cubic gas feet per day from Edco liquefaction factory owned by Shell’s BG. Two months ago, the company halted its operations in the 9B stage of its concession area in the Mediterranean. Saipem drillship was moved from the site after finishing 9A operations and linking the site to the national gas grid. Sources earlier said that the 9B site has 40% less gas than 9A, which reduces the production life of the project, so the company asked for increased gas prices. The source said that gas of that stage is found deeper than the previous stage, thus requiring more drilling time—as long as 67 days per well, versus only 45 days for the first stage. | marunam2 | |
18/5/2016 09:12 | Good news on the way ? | marunam2 | |
18/5/2016 08:01 | At last the outcome of AASE well from Mitch. But the tone of the RNS was appalling,instead of opening with 'Circle Oil is pleased to announce...........' Yes it is semantics but we need more enthusiasm from our BOD to connect with new investors. The news was good but the share price did not budge. More oil found and poo rising to almost $50, yet no interest. The debt does weigh heavy but the lender is being very compliant and bending over backwards to accommodate COP. So why not show some positive reactions! And...........buy some shares!! | gerry hatrick | |
17/5/2016 12:09 | SP Angel this morning: • Circle Oil (LON:COP – 2.00p) – (BUY – 11p) – Operationally Solid, Given Space: Today's disclosure that the second of the two wells planned for 2016 has been brought on stream is a positive for the Company, not least as it comes at a time that the oil price is strengthening. While the issue of the debt continues to overshadow the wider outlook for the Company, we believe that operationally at least, it remains in good stead, although this single issue (the debt) remains the key issue for any investor looking at the Company. Today's news confirms that other than the debt, the remainder of the Company is solid. As such, we are taking this opportunity to reiterate our 11p Target Price and BUY Recommendation. | steelwatch | |
17/5/2016 09:17 | At least COP have throttled back and not pumping at full capacity. | greatfull dead | |
17/5/2016 08:24 | Good result , though they never state what the actual production will be from the well, even within a range. POO is now nearly $50pbo, if that price level can remain for this Q than it will be very welcome. 11 more US rigs were sidelined according to Bloomberg tv, so there is a lot of pain about. We would have been at 0.75 as peel hunt now predicts down from their 10p buy target !!. Any one shed a light on what was their reasoning for such a low price. | marunam2 | |
17/5/2016 07:06 | The second of the two production wells, AASE-24 has been drilled to TD, completed and tied in to the production infrastructure. On 16 May a well test commenced and the well flowed at a gross average rate of 1,714bbls/day of oil and 3.062mmcf/d of gas through a 40/64" choke. The well will be produced at a lower rate in order to best manage the long term field production. Circle CEO, Mitch Flegg said "We are pleased with the results of this two well drilling campaign which will help to maintain production rates and manage field production. There is no further drilling planned in 2016 although there is an ongoing workover campaign which we also expect to help maintain production levels." (1) Circle Oil 40%, NPIC 50%, SDX 10% | steelwatch | |
15/5/2016 12:42 | Peel Hunt today downgrades its investment rating on Circle Oil [LON:COP] to sell (from buy) and cut its price target to 0.70p (from 10p) | deepwildcatter | |
13/5/2016 08:50 | From January's lows of $26pbo oil is now above $45 and holding. We are producing, just not getting paid for it. So many companies in US are filing for bankruptcy protection and some of the lenders are re negotiating their loans, We are talking billions in loans. They are being pragmatic and are working their way through the crisis where possible. IFC have a rep' as a development bank for the distressed and needy countries ( for want of better words ) They are not going to let this business which employs people in Egypt and Morocco go down easily. The assets are there and working. Not ramping, we are in trouble ofcourse till this is solved, but I am optimistic that further extensions will be granted and who knows by the american driving season we may see oil over $50+. | marunam2 | |
13/5/2016 08:30 | Gerry, Angel have a target of 11p , it's the debt issue and the repayment issue that needs sorting out. If a national government fails to pay companies within a fair period ,then surely the companies would sue them. At least they have been given the nod over a larger payment and it may mean the full amount will be paid by the end of Q2 as has been mooted. Their allies the Saudi's are bank rolling their oil for the next few years and they would I suspect help them with their foreign reserves. There is a lot of investment in Egypt's oil sector at the moment and they would not want that to go away for non payment of dues. More positive news though and hopefully better to come in 2 weeks. | marunam2 | |
13/5/2016 08:27 | Can take two views: Optimistic - Lenders have agreed to repayments from existing operations and not insisting on fire sale. Pessimistic - Nobody wants to buy assets at realistic prices and lenders are trying to reduce exposure as much as possible before pulling plug. Peel Hunt obviously take latter view. But bottom line is they do have or could have business if not for debt level!! | mandm10 | |
13/5/2016 08:17 | Another COP lack of info . What about AASE24 ? What about farm out? I see Peel Hunt have a strong SELL and a target price of 0.7p. Still nobody took any notice when they had 40-50p target. | gerry hatrick | |
13/5/2016 08:15 | Have they also an issue in extracting monies from Moroccan customers. | jotoha2 | |
13/5/2016 07:41 | How's the share price going to react? | ifthecapfits | |
13/5/2016 07:13 | IMHO a positive RNS. | greatfull dead | |
12/5/2016 19:54 | Reserve Based Lending article here: "if banks reset companies’ borrowing bases lower than the value of their outstanding debts, then the companies typically had five months to make up the difference. If they failed to do so, they defaulted" | deepwildcatter | |
12/5/2016 14:36 | itcf - see the RBL Update on 15 April. Friday 13th tomorrow :-0 | steelwatch | |
12/5/2016 14:03 | Why do you think there is news tomorrow? Have I missed something? TIA. | ifthecapfits |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions